Desarrollos Universitarios Inc
- Assets
- $67.1m
- Revenue
- $4.1m
- Investments
- $0.0
- Employees
- 5
- Location
- San Juan, PR
- Founding
- 12/2001
- Data as of
- 06/2023
- EIN
- 66-0540331
Organization Overview
Desarrollos Universitarios Inc is located in San Juan, PR. The organization was established in 2001. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2023, Desarrollos Universitarios Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Desarrollos Universitarios Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Desarrollos Universitarios Inc generated $4.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (10.3%) each year. All expenses for the organization totaled $2.8m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (14.4%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
DEVELOPMENT, CONSTRUCTING AND OPERATING FACILITIES FOR THE UNIVERSITY OF PR, PROVIDE STUDENT HOUSING ADMINISTRATIVE OFFICES, LIMITED COMERCIAL SPACES - PARKING
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPENSES TO PROVIDE STUDENT HOUSING AND INSTITUTIONAL BUILDING FOR
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jusseff M Gall Dirc & Pres | Trustee | 4 | $0 |
Manuel E Ares Director | Trustee | 4 | $0 |
Humberto Torre Director | Trustee | 4 | $0 |
Carlos L Marre Director | Trustee | 4 | $0 |
Luis A Ferrao Director | Trustee | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Capitol Se Security Services | 6/29/21 | $153,846 |
All Purpose Maintenance Services | 6/29/21 | $119,297 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,541,612 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,541,612 |
| Total Program Service Revenue | $0 |
| Investment income | $565,002 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,106,614 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $264,869 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $63 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $31,500 |
| Fees for services: Accounting | $13,472 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $203 |
| Advertising and promotion | $0 |
| Office expenses | $522 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,367,250 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $13,058 |
| All other expenses | $0 |
| Total functional expenses | $2,789,724 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $64,433 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $49,987,223 |
| Intangible assets | $0 |
| Other assets | $17,042,527 |
| Total assets | $67,094,183 |
| Accounts payable and accrued expenses | $3,282,930 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $49,213,322 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $52,496,252 |
| Net assets without donor restrictions | $14,597,931 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $67,094,183 |